Trade talks

President Donald Trump on Thursday played down the prospect of successful trade talks with China and said the Asian economic powerhouse has become "very spoiled." Trump, in response to questions from reporters during his White House meeting with NATO's secretary- general, said the United States has been losing $500 billion a year on trade with China. Beijing and European countries, he said, have become "very spoiled," and he said he cannot allow large trade deficits to continue. The U.S. and China are holding talks aimed at avoiding a trade war between the world's two biggest economies. "Will that be successful? I tend to doubt it," the president said. Trump was expected to meet with a top Chinese official who is in Washington for the trade talks. When Trump cites the $500 billion figure, he is overstating the trade deficit with China by about $167 billion. He counts Americans' purchases of goods from China as a loss for the U.S., while ignoring what China buys from the U.S. He also … [Read more...] about Trump talks down prospect of successful US-China trade talks

President Donald Trump on Thursday cast doubt on the prospect of successful trade talks with China, saying the Asian economic powerhouse has become "very spoiled" because it usually gets its way with the U.S.Trump, in response to questions from reporters during a meeting with NATO's secretary-general, said the United States has been losing $500 billion a year on trade with China and raised questions about the potential for an agreement."Will that be successful? I tend to doubt it. The reason I doubt it is because China has become very spoiled. The European Union has become very spoiled," Trump said. "Other countries have become very spoiled because they always got 100 percent of whatever they wanted from the United States. But we can't allow that to happen anymore."Trump met with Chinese Vice Premier Liu He, the leader of China's delegation, later Thursday, tweeting a picture of the two men shaking hands, a wide grin on Trump's face. Treasury Secretary Steven Mnuchin is leading the … [Read more...] about Trump plays down prospect of successful US-China trade talks

"Secretary Ross, who's in charge of this, has always regarded it as an enforcement issue, not as a trade issue," Kudlow said, adding that nonetheless, Commerce will review the case and "they'll take a look at the remedies."Speaking Monday at the National Press Club, Ross reiterated that "ZTE did do some inappropriate things. They've admitted to that." But in light of the president's request, he said. "The question is are there alternative remedies to the one that we had originally put forward. ... That's the area we will be exploring very, very promptly."ZTE has about 80,000 employees in 160 countries. Last year it sold more than 20 million smartphones in the United States, nearly half its worldwide sales. But weeks ago, the Defense Department banned sales on U.S. military bases, citing security concerns.China's vice premier and chief trade negotiator, Liu He, is in Washington for a fresh round of trade talks. Kudlow said he'll meet later Thursday with Trump, though the White … [Read more...] about Trump is hands-on with ZTE sanctions review, says Larry Kudlow as China trade talks continue

The United States and China launch a second round of trade talks on Thursday to try to avert a damaging tariff war, with the Trump administration demanding a $200 billion cut in China's U.S. trade surplus and greater protections for intellectual property. U.S. President Donald Trump has threatened to impose up to $150 billion in punitive tariffs to combat what he says is Beijing's misappropriation of U.S. technology through joint venture requirements and other policies. Beijing has threatened equal retaliation, including tariffs on some of its largest U.S. imports, including aircraft, soybeans and autos. At talks in Beijing two weeks ago, both sides presented lengthy lists of demands, agreeing only to keep talking. The Trump administration sought a $200 billion reduction in China's $375 billion U.S. goods trade surplus, an end to joint venture requirements that it says coerce technology transfers from American companies and an end to subsidies for advanced technology industries under … [Read more...] about US Starts Trade Talks With China to Avert Tariff War, Economic Damage